Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF CONSOLIDATED CASH FLOWS

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STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net income $ 1,113 $ 1,895
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 898 834
Pension and postretirement benefit expense 259 243
Pension and postretirement benefit contributions (50) (1,277)
Self-insurance reserves 27 (20)
Deferred tax (benefit) expense 22 56
Stock compensation expense (27) 126
Other (gains) losses 129 (13)
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 1,492 2,254
Other assets 55 62
Accounts payable (799) (1,668)
Accrued wages and withholdings 12 (508)
Other liabilities 185 405
Other operating activities 0 (32)
Net cash from operating activities 3,316 2,357
Cash Flows From Investing Activities:    
Capital expenditures (1,035) (609)
Proceeds from disposal of businesses, property, plant and equipment 13 5
Purchases of marketable securities (50) (2,371)
Sales and maturities of marketable securities 2,696 1,179
Acquisitions, net of cash acquired (44) (34)
Other investing activities (14) 17
Net cash (used in) from investing activities 1,566 (1,813)
Cash Flows From Financing Activities:    
Net change in short-term debt (1,272) 0
Proceeds from long-term borrowings 0 2,503
Repayments of long-term borrowings (926) (65)
Purchases of common stock 0 (751)
Issuances of common stock 54 49
Dividends (1,348) (1,348)
Other financing activities (174) (384)
Net cash (used in) from financing activities (3,666) 4
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (48) 40
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 1,168 588
Cash, Cash Equivalents and Restricted Cash:    
Beginning of period 3,206 5,602
End of period $ 4,374 $ 6,190